Related Experiment Video
Updated: Jun 12, 2025

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Decisions among shifting choice alternatives reveal option-general representations of evidence
Peter D Kvam1, Konstantina Sokratous1, Anderson K Fitch1
1Department of Psychology, University of Florida.
Abstract:
Dynamic models of choice typically describe the decision-making process in terms of the degree or balance of support for available response options. However, these alternative-specific representations of support are liable to fail when the available options change during the course of a decision. We suggest that people may use alternative-general representations, where stimulus feature information-rather than option-specific support-is accumulated over time and mapped onto support for available options as they appear. We tested alternative-specific and alternative-general models of choice in two perceptual experiments where the available options could change during a trial. In the first study, we showed that changing the choice options partway through a trial resulted in no substantial difference in performance relative to a condition where the final options were always onscreen. This was supported by a quantitative model comparison that strongly favored an alternative-general (geometric) model over two alternative-specific models (diffusion and racing accumulator models). In the second study, the stimulus primed specific unavailable responses to test whether irrelevant support for unavailable options was integrated into the decision process. This study elicited a pattern of accuracy that could not have occurred unless participants accumulated support for options that were not yet available. Together, these experiments and modeling results indicate that the majority of participants rely on alternative-general representations of evidence during dynamic decisions among options that can change over time. Future work on decision behavior and its neural antecedents should explore the predictions of these alternative-general theories of choice. (PsycInfo Database Record (c) 2025 APA, all rights reserved).
Related Concept Videos
Decision Making: P-value Method
First, a specific claim about the population parameter is proposed. The claim is based on the research question and is stated in a simple form. Further, an opposing statement to the claim is also stated. These statements can act as null and alternative hypotheses: a null hypothesis would be a neutral statement while the alternative hypothesis can...
Decision Making: Traditional Method
First, a specific claim about the population parameter is decided based on the research question and is stated in a simple form. Further, an opposing statement to this claim is also stated. These statements can act as null and alternative hypotheses, out of which a null hypothesis would be a...
The Availability Heuristic
The Anchoring-and-Adjustment Heuristic
Framing Effects
Null and Alternative Hypotheses
The null hypothesis, denoted by H0 is a statement of no difference between the variables—they are not related. This can often be considered the status quo. As a result if you cannot accept the null, it requires some action.
The alternative hypothesis, denoted by H1 or Ha, is a claim about the...

